ZIP CODE 10023 // NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA // DATA AS OF 2026-09-30
New York, NY (10023) Rental Property Cap Rate & Cash Flow Report
Located in New York County (New York, NY), Zip Code 10023 ranks #457 of 500 within this selected sample (9th percentile) with a Zillow ZHVI typical home-value index of $1,444,233 (+3.0% YoY) and a ZORI observed market rent of $4,890/mo (+4.7% YoY). Requires at least 78.4% down payment at 6.5% interest to reach $0/mo break-even cash flow. This model combines different housing populations; it is not an observed average property return. Costs assume state-average tax, 0.5% annual insurance, 13% reserves and no HOA or management. Figures below follow your edits; this headline describes the original benchmark.
Net Monthly Cash Flow
-$5,335/mo
Annual: -$64,022/yr
Modeled Cap Rate
1.63%
NOI: $23,612/yr
Cash-on-Cash Return
-19.27%
Cash Needed: $332,174
1% Rule Ratio
0.34%
Gross Yield: 4.06%
Break-Even Rent
$11,022/mo
State Tax: 1.40%/yr
INTERACTIVE PRO-FORMA STATEMENT (ZIP 10023 BENCHMARK)
Edit any value
Purchase Price (ZHVI proxy)
Monthly Gross Rent (ZORI proxy)
Down Payment (%)
Interest Rate (30Y Fixed %)
Annual Property Tax (NY Avg 1.40%)
Annual Home Insurance ($)
Monthly HOA Fee ($)
Monthly Debt Service (P&I)
-$7,303/mo
Monthly Operating Expenses (Tax + Ins + 13% Reserves)
-$2,922/mo
HISTORICAL ZHVI PRICE VS. ZORI RENT TRAJECTORY (10023)
| Year | ZHVI Value | ZORI Rent | Gross Yield |
|---|---|---|---|
| 2021 | $1,697,905 | $3,498/mo | 2.47% |
| 2022 | $1,759,120 | $4,013/mo | 2.74% |
| 2023 | $1,417,740 | $4,110/mo | 3.48% |
| 2024 | $1,379,353 | $4,277/mo | 3.72% |
| 2025 | $1,401,640 | $4,672/mo | 4.00% |
| 2026 | $1,444,233 | $4,890/mo | 4.06% |
COMPARABLE U.S. RENTAL MARKETS
| Zip / City | Price | Rent | Cap Rate | Cash Flow |
|---|---|---|---|---|
| 10312 New York, NY | $761,384 | $2,582/mo | 1.64% | -$2,809/mo |
| 11229 New York, NY | $770,010 | $2,622/mo | 1.66% | -$2,832/mo |
| 11201 New York, NY | $1,402,838 | $4,717/mo | 1.61% | -$5,211/mo |
| 11234 New York, NY | $783,194 | $2,677/mo | 1.67% | -$2,871/mo |
| 11211 New York, NY | $1,435,890 | $4,935/mo | 1.69% | -$5,241/mo |
| 11209 New York, NY | $829,586 | $2,868/mo | 1.71% | -$3,013/mo |